Morning- I own land in WY and trying to borrow down payment

Customer Question

Morning- I own land in WY and trying to borrow down payment for a home in WI. My late husband & I back in 2004 bartered 1 acre of WY land for foundation work, etc. There was and currently is a moratorium in place which is causing the title company of WY land not to proceed with loan until this is cleared up? Need to know what my options are since the home purchase in WI closing date is scheduled for 1/31/17. Please adviseJA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: WY = land and trying to purchase home in WIJA: Has anything been filed or reported?Customer: agreement to transfer land has been filed in Lincoln County WY back in 2004JA: Anything else you want the lawyer to know before I connect you?Customer: no

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

If the seller cannot pass clear title onto you, then this would be legal grounds to cancel the sale and for you to recover any and all money paid to the seller for the property under the implied warranty of merchantability. A title company cannot complete the transfer as long as there is any cloud on the title, so the title company and you and your seller has to either work together to clear the moratorium by going to whoever placed the moratorium and getting it lifted and removed or you have a right to cancel the purchase and the seller must pay you for the value of the bartered service you provided to them.

That is the only way to clear the title I am afraid.

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The moratorium is on the WY property which is COUNTY regulations ... the COUNTY recorded the agreement to transfer land in the first place!1) Would a "quite title action" work to clear WY title or be necessary if I still feel that this 1 acre "bartered" piece of property is respectfully ***** ***** builder contractor's payment in full?2) quit claim deed that 1 acre ( if possible ) and have a MOU on the table for this 1 acre?Please advise if I am "able" or "unable" to borrow money from my WY property that I own for title borrowing logistics? I also have paid taxes on 100% of these acres since inception even with this "transfer of agreement" recorded = 12 years ago.... does that have any leverage?Time is on the essence as well since the Wisconsin home purchase contract is on the table with closing 1/31/17.thanks in advance for your expertise-

Generally, no it is not doable in 30 days, the other party has 30 days at least to answer the quiet title action. Generally, it is going to take a minimum of 90 days if there are no objections to the quiet title. An attorney will charged roughly $3000 for such an action, depending on how much opposition there is it could be more.